Hurco Companies, Inc. (NASDAQ:HURC) Files An 8-K Results of Operations and Financial Condition
Item 2.02
|
Results of Operations and Financial Condition. |
On March 10, 2017, Hurco Companies, Inc. (the Company) reported
its results of operations for the first fiscal quarter ended
January 31, 2017. The Companys earnings release for the period is
attached as Exhibit 99.1, and the information set forth therein
is incorporated herein by reference and constitutes a part of
this report. Exhibit 99.1 is furnished to Item2.02 of Form 8-K.
| Item 5.07 |
Submission of Matters to a Vote of Security Holders. |
The Company held its Annual Meeting of Shareholders on March9,
2017. The shareholders:
|
elected all nine of the Companys nominees for director to serve until the next Annual Meeting of Shareholders; |
|
approved, on an advisory basis, the compensation for the Companys named executive officers as disclosed in the proxy statement for the 2017 Annual Meeting; |
|
submitted, on an advisory basis, a majority of votes for annual frequency for future executive compensation say-on-pay votes; and |
|
ratified the appointment of Ernst Young LLP to serve as the Companys independent registered public accounting firm for the fiscal year ending October31, 2017. |
Shares were voted on these proposals as follows:
|
Number of Votes FOR |
Number of Votes WITHHELD |
Broker Non- Votes |
|
| Election of Directors: | |||
| Thomas A. Aaro | 5,330,946 | 16,695 | 815,274 |
| Robert W. Cruickshank | 5,327,752 | 19,889 | 815,274 |
| Michael Doar | 4,787,949 | 559,692 | 815,274 |
| Timothy J. Gardner | 5,331,254 | 16,387 | 815,274 |
| Jay C. Longbottom | 5,329,795 | 17,846 | 815,274 |
| Andrew Niner | 5,331,464 | 16,177 | 815,274 |
| Richard Porter | 5,332,554 | 15,087 | 815,274 |
| Janaki Sivanesan | 5,331,256 | 16,385 | 815,274 |
| Ronald Strackbein | 5,329,346 | 18,295 | 815,274 |
| For | Against |
Broker Non- Votes |
Abstentions |
|
|
Advisory vote to approve executive compensation: |
5,217,672 | 42,237 | 815,274 | 87,732 |
|
FOR Every 1 Year |
FOR Every 2 Years |
FOR Every 3 Years |
Broker Non- Votes |
Abstentions |
|
|
Advisory vote on frequency of future say-on-pay votes: |
4,219,424 | 84,987 | 941,919 | 815,274 | 101,311 |
|
For |
Against |
Broker Non- Votes |
Abstentions |
||
|
Ratification of appointment of public accounting firm: |
6,139,422 | 16,299 | — | 7,194 |
Based on the advisory vote results on the frequency of future
say-on-pay votes, and consistent with the recommendation of the
Companys Board of Directors (the Board), the Board has determined
that the Company will hold a shareholder advisory vote on
executive compensation every year until the next required vote on
the frequency of future say-on-pay votes.
| Item 7.01 | Regulation FD Disclosure. |
The Companys press release issued on March 10, 2017 announced the
payment of a cash dividend of $0.10 per share of common stock. A
copy of the press release is filed as Exhibit 99.1 to this report
and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
| 99.1 | Press release of Hurco Companies, Inc. dated March 10, 2017 |
About Hurco Companies, Inc. (NASDAQ:HURC)
Hurco Companies, Inc. is an industrial technology company. The Company designs, manufactures and sells computerized (Computer Numeric Control (CNC)) machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes). It operates in the industrial automation equipment segment. It designs and produces interactive computer control systems and software, computerized machine tools, and machine tool components and accessories for sale through its own distribution network to the metal working market. Its product lines include Hurco Brand of CNC Machine Tools, Milltronics Brand of CNC Machine Tools, Takumi Brand of CNC Machine Tools, Hurco Computer Control Systems and Software and LCM Machine Tool Components and Accessories. It has three brands of CNC machine tools in its product portfolio: Hurco, Milltronics and Takumi. In addition, through LCM Precision Technology S.r.l. (LCM), the Company produces machine tool components and accessories. Hurco Companies, Inc. (NASDAQ:HURC) Recent Trading Information
Hurco Companies, Inc. (NASDAQ:HURC) closed its last trading session up +0.35 at 27.15 with 41,361 shares trading hands.